The Riviera Garden residential property, developed by Shimao Group Holdings, reflected in a window at Shimao Tower in Shanghai on July 14, 2022. The company is one among many Chinese property developers that have missed bond payments this year. Photo: Bloomberg
The Riviera Garden residential property, developed by Shimao Group Holdings, reflected in a window at Shimao Tower in Shanghai on July 14, 2022. The company is one among many Chinese property developers that have missed bond payments this year. Photo: Bloomberg

China bond defaults hit US$20 billion in 2022, more than double last year’s total, as property developers teeter

  • The value of defaults in China this year has already exceeded last year’s totals, experts say
  • Property developers account for the bulk of defaults so far and will do so for the rest of this year, analysts say

The Riviera Garden residential property, developed by Shimao Group Holdings, reflected in a window at Shimao Tower in Shanghai on July 14, 2022. The company is one among many Chinese property developers that have missed bond payments this year. Photo: Bloomberg
The Riviera Garden residential property, developed by Shimao Group Holdings, reflected in a window at Shimao Tower in Shanghai on July 14, 2022. The company is one among many Chinese property developers that have missed bond payments this year. Photo: Bloomberg
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